How the M&A world has been shaped in 2024 and what will impact it in the year ahead

Written by partners and associates who bring insights and expertise in the global M&A market across multiple sectors the report focuses on four topics:

• How will a Trump administration impact M&A? Dealmakers in U.S. have greeted Donald Trump’s election win with optimism. The Insights report assesses the potential impact of the incoming U.S. administration on dealmaking, foreign investment screening and merger review.
• U.K. public markets remain an attractive hunting ground for U.S. bidders: There has been a resurgence in transatlantic public M&A during 2024 with deals worth USD15.2 billion in the year to October. This is nearly double the total for 2023. The report examines what has driven this increased corporate confidence. However, it also warns that the high number of failed bids is a sign that the unique features of the U.K. takeover regime require careful navigation to ensure transactions succeed.
• After a period of hibernation, is life returning to the PE exit market? PE firms have faced challenges over the past 12 months in realizing their asset valuations, but the report authors reveal cause for optimism as we move into 2025.
• Mario Draghi wants to reshape Europe’s regulations of M&A. Will his plan succeed? The Draghi report into EU competitiveness sets out ambitious proposals to reshape Europe’s merger control landscape, with recommendations designed to foster growth and competitiveness. Our M&A Insights report explores the likelihood of this vision becoming a reality.

A&O Shearman partner David Broadley, global co-head of M&A, said: “Our latest report comes at the end of a busy year of elections around the world, which combined with various geopolitical uncertainties have impacted M&A markets. In the U.S. the arrival of President Trump in the White House and in the E.U. the impact of the Draghi report will have repercussions beyond those geographic boundaries.

“However, our report sees signs that after a challenging year, the tide may be turning in the PE exit market and the demand from the U.S. for U.K. listed companies will continue but we warn that bidders need to understand the unique features of the U.K. takeover regime to avoid bids failing.”

David added: “The M&A landscape in 2025 will remain highly competitive and our global network of experts involved in M&A will continue to deliver valuable insights and opinions on what is shaping dealmaking.” The full M&A Insights report can be read and downloaded on the A&O Shearman web site.